The Church Commissioners – which manage the Church’s £7.9 billion investment fund – criticised the sportswear giant amid a string of controversies at the high street chain, the Press Association understands.
In a series of letters delivered to the company, the Church is thought to have touched on issues including executive pay and working conditions at the retailer.
The correspondence came at a time when Sports Direct was dealing with serious operational, governance and risk oversight problems.
These included what unions described as “Victorian” working conditions at the high street chain’s Shirebrook factory in Derbyshire, and the retention of Keith Hellawell as chairman against the wishes of key shareholders.
The retailer also admitted to paying warehouse workers below the national minimum wage in 2016.
Mr Ashley, who also owns Newcastle United Football Club, was hauled before MPs to answer questions on the controversies, after which Sports Direct ordered in-house law firm RPC to carry out a review of the failings.
The Church’s investment arm, which has a minority holding in Sports Direct, made its disapproval clear at the group’s AGM, voting against the re-election of both chairman Mr Hellawell and chief executive Mr Ashley in 2017, as well as the head of the remuneration committee and remuneration report.
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